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Villa Igiea, Vaucluse, Sydney

By Pillinger

Prestige property case study – ‘Villa Igiea’, Vaucluse, Sydney

Dating to the 1920s, the magnificent ‘Villa Igiea’ is one of Sydney’s finest estates
designed by Neville Hampson – the architect who designed Boomerang in Elizabeth Bay. Inspired by the grand villas of Palermo, the hillside mansion is set above Hermit Bay on a commanding 2,160sqm parcel of land affording breathtaking views over Sydney Harbour to the Harbour Bridge and Opera House.

Built in the Riviera Liberty style with distinct Italianate art nouveau influences, the sprawling estate is surrounded by sunny terraces and landscaped grounds with a harbourview pool and beautifully crafted interiors offering six bedrooms, home office, four reception rooms, a dream kitchen and a grand entry foyer with elegant port cochère.

We asked Brad Pillinger, the agent responsible for the recent sale of this outstanding property to answer a few questions.

Can you please tell us a little bit about ‘Villa Igiea’? Where it’s located and what sort of property it is?
‘Villa Igiea’ is located in Queens Avenue, Vaucluse on over 2,000sqm of land. It has gun barrel views across the harbour with the Harbour Bridge dead centre in your line of sight. It is an amazingly restored home that is largely modern inside. It even has it’s own ballroom.

We understand you sold it at the beginning of the last year. Can you tell us who to and for what price?
At the time, price and buyer information was strictly confidential. It has now settled and other sources have reported the $52million price point. I cannot personally reveal the name of the buyer even though it can easily be sourced.

Is that the highest price achieved for a residential home last financial year?
At the time it was either the first or second highest price in Australian history. Jame Packer’s house in Vaucluse sold for $70million. However I’m unsure if that settled before or after the end of the financial year.

Is this the highest price you have achieved for a residential property?
At the time it was a record for me. I have since eclipsed it with the sale of Wingadal Place Point Piper for over $60m , which is the second highest price in history.

Is that the first time you have sold the property?
I have sold ‘Villa Igiea’ three times. Initially in 2001 for Peter Abeles estate to Bruce McWilliam for $12.1m which was the highest price achieved in Vaucluse at the time. I then sold it to Wayne Burt in 2005 for $17.34m. Wayne Burt then bought 800m of adjacent land and extensively renovated the property selling it to local interests with its most recent sale of $52m.

We understand that at one point it was rented to Brad Pitt and Angelina Jolie? Can you tell us anything about this.
The Burt family didn’t spend a lot of time in Sydney so they offered it for a series of short term rentals to the likes of Stevie Niks, Beyonce and Jay Z, Mario Testino, Katie Perry, Jim Clark and Kirsty Hinze, Brad Pitt and Angelina Jolie.

There is currently another property on the market owned by Aussie Home Loan’s John Symonds. It’s set to top the residential record at around $100million. Do you think that’s a possibility?
I definitely think it’s possible. Why not? It is absolutely immaculate with a huge water frontage and incomparable view.